Regions Northeast
Suburban Boston Industrial Complex Trades for $38M
July 18, 2008

The distribution buildings at 26 and 28 Millbury Street in Auburn, Mass., about 40 miles west of Boston, traded for an aggregate $38.5 million. Liberty Properties of Boston sold the two-building 667,000-square-foot complex to Scarsdale, N.Y.-based Rabina Properties in a transaction that was structured as a forward commitment to accommodate 26 Millbury Street's construction timeline. Located near the Massachusetts Turnpike/I-290 interchange, the property consists of the 210,000-square-foot 26 Millbury, a month-old build-to-suit for Interline Brands, and the 450,000-square-foot distribution center at 28 Millbury, which is used as Filene's Basement's main distribution hub. Holliday Fenoglio Fowler L.P. orchestrated the property's disposition on behalf of Liberty.

 
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